Westchester / IL. (gnw) Ingredion Inc., a leading global provider of ingredient solutions to the food and beverage manufacturing industry, announced that beginning in the first quarter of 2024, it intends to reorganize its business operations to focus its production assets and commercial efforts to better serve customers at both the global and local level.
Currently, the Company is organized by regions. Going forward, the Company intends to serve customers with a global focus on texture and healthful solutions and will continue to provide food and industrial ingredients to local markets. The Company expects the reorganization of its business operations will result in a change to its financial reporting segments in the first quarter of 2024 and that this change will provide the Company’s financial stakeholders with greater insight into the Company’s performance.
«As we continue to execute against our growth roadmap while pursuing our broader business transformation, this reorganization will better reflect and enable the strategic value drivers of our business,» said president and chief executive officer Jim Zallie. «The new structure will allow for greater transparency into our product capabilities, improve our focus on growing market opportunities and serving customers, and provide greater insight to financial stakeholders.»